Wockhardt extends date for redemption of preference shares aggregating Rs 99.84 cr

To 31 March 2021

Wockhardt announced that the Capital Raising Committee of the Board of Directors at its meeting held 30 March 2020 and in line with the consent received from Khorakiwala Holdings & Investments (Promoter Group Entity), Preference Shares holder, has extended the date of redemption of 160,000,000 0.01% Non-Convertible Cumulative Redeemable Preference Shares ('Preference Shares') for a period of 1 year i.e. from 31 March, 2020 to 31 March, 2021 at a redemption premium of 8% p.a. on the redemption value of said Preference Shares as on 31 March, 2020. Redemption value of said Preference Shares, as on 31 March, 2020, stands Rs. 99.84 crore.

During this period of 1 year, both the Company and Preference Shares holder shall have the right of early redemption by giving one month notice. In such case, redemption premium would be charged for the period commencing 1 April, 2020 till the actual date of redemption of the said Preference Shares. Other terms of said Preference Shares including rate of dividend shall continue to remain the same.

 

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